đWill $BTC Surpass the 66000$ in this week â
Bitcoin bulls are making strides toward the $66,000 mark, with a significant focus on reclaiming the 200-day moving average. Successfully closing above $66,000 could spark a rally toward BTCâs all-time high. As indicated in recent charts, there is notable resistance at $66,000, $67,900, and $70,000, but achieving a close above the 200-MA at $64,000 would signal bullish momentum. This could enable traders to break the pattern of lower highs, particularly if they manage a weekly close above $65,000 by September 29.Such a movement might trigger the liquidation of short positions concentrated in the $64,200 to $65,000 range, propelling the price toward the long-term descending trendline resistance around $66,200. In terms of intra-day activity, DK, founder of TRDR.io, noted that "spot trading is pushing the price higher, while perpetual contracts are adjusting their asks." This interplay between spot and derivatives markets could significantly impact short-term price movements and overall market sentiment.Overall, if bulls can maintain momentum and overcome these key resistance levels, a breakout could lead to a substantial upward trajectory for Bitcoin.
